Nuance Misses on Q1 Net

Shares of Nuance Communications were down following the release of the firm's Q1 2013 results. Non-GAAP revenue came in at $492 million, a 28% year-over-year increase. That slightly exceeded the average analyst estimate of $490 million. Net profit was $113 million ($0.35 per diluted share), which bettered Q1 2012's $109 million ($0.34), but fell just short of analyst expectations of $0.36.

The company offered guidance going forward of $500 million-$553 million for the quarter, with EPS of $0.36-$0.45. For the full year, those numbers are $2.05 billion-$2.10 billion, and $1.76-$1.87, respectively.

Nuance Communications stock was down nearly 15%, to $20.95, in after-hours trading.